Stimulus Checks and Dependent Payments: Everything You Need to Know
The Internal Service Revenue (IRS) has announced two different deadlines for claiming stimulus checks and dependent payments for qualified individuals.
Millions of Americans have already received their stimulus checks and dependent payments under the CARES Act. While nearly nine million qualified individuals in the country have yet to receive their stimulus checks and dependent payments due to lack of information in the IRS.
The IRS announced two different dates for claiming the $1,200 stimulus checks for individuals and $2,400 for married while $500 for qualified dependents or those who are under 17 years old.
Most of those expected to claim are those who did not file their tax return or those who believe they did not qualify for the relief aid.
Deadline for the Dependent Payments
Qualified individuals who have yet to receive their $500 dependent payments have until Sept. 30 to enter your dependent children's information to the IRS non-filer online portal. Most of them have reportedly received Social Security, Supplemental Security Income, Department of Veterans Affairs, or Railroad Retirement Board benefits.
According to the IRS, the deadline specifically applies to people in those categories who did not use the tool before May 5. Those who submitted information after May 5 will automatically receive payments for their dependents in October, according to the tax agency.
Meanwhile, those who will miss the Sept. 30 deadline will instead receive the dependent payments as credits when they file their tax returns next year. The IRS also noted that if there will be additional payments, it will come in the same way either through direct deposits or mailed paper checks.
It is also important to visit the website of the IRS. Those who are expecting more money can check their status on the Get My Payment tool. Millions are still about to receive their dependent payments, and it is important to update your information with the IRS for a possible second round of dependent payments.
Deadline for the Stimulus Checks
Millions of Americans who are earning less typically do not file tax returns, but they are still qualified for the stimulus checks. This is the reason why the IRS was not able to send the stimulus checks to most of them due to lack of information.
The agency has already made some actions by sending letters to nearly nine million qualified individuals who did not receive their stimulus checks. They have until Oct. 15 to file the information needed so they can receive the money before the year ends.
The non-filer tool is intended for those whose incomes are below $12,200 and married couples earning less than $24,400. Additionally, people who do not work or who have no income can also use the portal.
However, those who use the earned income tax credit or child tax credit are not eligible to use the tool but they need to file a regular tax return.
There are many reasons why many families and individuals do not qualify to receive stimulus checks. One of these is their immigration status, which means that they do not have a Social Security Number. However, the Trump administration wants the second round of stimulus checks to be received by more people.